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Administration details HOME initiative; Council presses on preservation, Neighborhood Restorations portfolio and HOME bond timing
Summary
Administration described the HOME initiative and two planned $400 million home borrowings, $151 million in new housing investments and preservation money; Council members pressed for a swift preservation strategy for a 925‑unit Neighborhood Restorations portfolio and asked how $46 million preservation funding will be used.
The administration presented the HOME initiative and related housing investments to Council as part of the FY27 proposal. Officials said the five‑year plan includes two $400 million bond borrowings for a home initiative and $151 million in new housing investments that would support land bank work, a proactive rental inspection program and modular housing production.
Preservation opportunity: Council members flagged a near‑term preservation opportunity — a…
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